Independent Leading Corporate Governance Research

Metrical Inc

METRICAL INC. is an independent leading Corporate Governance research firm in Japan where Corporate Governance is increasingly recognized as an important element on corporate management in these days. Thus, CG research and solutions would become an essential component of global capital markets and play important to contribute to transparency of the markets and maximize shareholders’ value in Japan. 

METRICAL INC. provides Corporate Governance research and analysis including rating services, and  also offers investment research and IR services with solutions and customized profound research on CG and IR issues.

An Option for Implementing Serious Corporate Governance Reforms to Achieve Results Are...

The Main Battlefield for Dissolution of Parent-Subsidiary Listings Will Shift to Standard Market

Setting Goals Is Key to Achieving Corporate Governance Reform, Rather than the Means to Achieve Them

Isn't the Market Impatient for the Companies to Implement Management Reforms?

Executive Director, Metrical Inc

Aki Matsumoto

Executive Director

<ul>
<li>Standard Market contains many companies with small market capitalizations and low trading liquidity, so there aren't many companies in the Standard Market that institutional investors can consider as investment targets.</li>
<li>Standard Market has more companies with P/B below 1x and ROE below 8%, but there's little difference between Prime Market and Standard Market in their improvements over past two years.</li>
<li>Whether companies disclosed improvement plans in response to the TSE's request does not necessarily correlate with improvements in their P/B ratio or ROE.</li>
</ul>


Standard Market contains many companies with small market capitalizations and low trading liquidity, so there aren't many companies in the Standard Market that institutional investors can consider as investment targets.
Standard Market has more companies with P/B below 1x and ROE below 8%, but there's little difference between Prime Market and Standard Market in their improvements over past two years.
Whether companies disclosed improvement plans in response to the TSE's request does not necessarily correlate with improvements in their P/B ratio or ROE.


Example Supporting that Disclosure of Improvement Plans and Their Effectiveness Are Separate Matters

TSE Tokyo Price Index TOPIX

Example Supporting that Disclosure of Improvement Plans and Their Effectiveness Are Separate Matters